MEDIA ALERT For Immediate Release – December 31, 2002 Number 2003-01 Page 1 of 2 Get Organized for Tax Time! SACRAMENTO – For many Californians, the last week of the year is a time to take a breather, slow down and relax. But the California Tax Contact: Education Council (CTEC) wants everyone to know this is an excellent Cindy B. Lopes time to start thinking about what you need to do to file your 2002 tax return. (916) 772-5365 “The real time to start thinking about your taxes is not April 14, but December 14,” said Bill Geideman, a tax practitioner in Santa Ana and CTEC Board Member. “After you finish your holiday shopping, you should look at your expenses and get an understanding of what you’re going to do.” Bill’s Top 5 List of Things You Can Do Now to Prepare for Tax Season: 1. Review last year’s tax return as a refresher and reference point. 2. Start making a list of expenses from the past year and summarize by category. 3. If you have childcare expenses, be sure to get your childcare provider’s tax ID number (or babysitter’s Social Security number). 4. Make sure you have all of your W-2 a nd 1099 forms from your bank or securities broker before you go to a tax preparer. Most are delivered by January 31. 5. Tally the receipts and keep track of itemized deductions in a notebook or spreadsheet. “It’s far better to bring a notebook or spreadsheet outlining your expenses instead of dumping a shoebox stuffed with receipts on a tax preparer’s desk,” said Geideman. Tax preparers charge bookkeeping fees if they have to sort through a person’s receipts. - - - more - - - Get Organized for Tax Time! 2-2-2-2-2-2-2-2-2-2-2 “If you have a simple return, with wages and you have no rental property, you want to fill it out as soon as you get your information,” he said. “You don’t want the federal government to keep your money. My recommendation is that everybody who has a bank use direct deposit.” Tips For Finding Someone to Do Your Taxes: There are four groups legally allowed to charge a fee to prepare your taxes: 1. CTEC Registered Tax Preparers (CRTP’s) 2. Certified Public Accountants (CPA’s) 3. Attorneys 4. Enrolled Agents (EA’s) enrolled before the Internal Revenue Service (IRS) To find out if your tax preparer is registered with CTEC: ?? Ask him or her; ?? Look for a CTEC sign in his or her office; or ?? Check our Web site: www.ctec.org or call us at (877) 850-CTEC (2832). We’ll tell you if he or she is registered. For more information, contact CTEC at (877) 850-CTEC (2832) or visit us online at www.ctec.org. ### The California Tax Education Council is an entity formed to register tax preparers who serve Californians.
Pages to are hidden for
"CTEC December 23 02 Press Release"Please download to view full document